Birla Corporation net profit down, India

Birla Corporation net profit down, India
Published: 27 October 2010

Birla Corporation Limited, the flagship company of the MP Birla Group, posted profit (after tax) of INR68.97 crore in the second quarter of financial year 2010-11, against INR152.05 crore in the corresponding quarter last year. 

Turnover for the quarter was INR550.34 crore against INR556.31 crore posted during corresponding quarter last fiscal, according to a company statement.

Profitability of the company declined due to lower clinker production on account of shutdown of the plants for capacity expansion, regular maintenance activities, lower cement realisation, increased use of outsourced clinker owing to non-availability of clinker from the company’s own plant, it said.